Nuscale Power earnings missed by $0.02, revenue fell short of estimates
In a recent transaction, Devin C. Johnson, a director at Progressive Corp. (NYSE:PGR), a prominent insurance player with a market capitalization of $159.5 billion and strong financial health according to InvestingPro, sold 400 shares of the company’s common stock. The shares were sold at a price of $275.04 each, amounting to a total transaction value of $110,016. Following this sale, Johnson retains ownership of 8,370 shares in the company. This transaction was documented in a filing with the Securities and Exchange Commission on March 26, 2025. The stock, trading at a P/E ratio of 18.9, has shown strong momentum with 16 analysts recently revising their earnings estimates upward. For deeper insights and comprehensive analysis, access the full Pro Research Report available on InvestingPro.
In other recent news, Progressive Corporation reported significant financial results for February 2025, with net premiums written increasing by 17% to $6.684 billion and net premiums earned rising by 18% to $6.036 billion. The insurer also noted a 26% increase in net income to $928 million, translating to a 28% rise in earnings per share to $1.58 for common shareholders. Despite these gains, Progressive experienced a pretax net realized loss on securities amounting to $110 million, contrasting with an $80 million gain from the previous year. The combined ratio, a key profitability metric, improved to 82.6%.
Analysts have weighed in on Progressive’s performance, with Raymond (NSE:RYMD) James maintaining an Outperform rating and a $305 price target, citing consistent growth and value creation. Keefe, Bruyette & Woods also raised their price target to $300, acknowledging earnings outperformance and better-than-expected reserve releases. Meanwhile, BMO Capital Markets maintained an Outperform rating with a $282 target but adjusted near-term organic growth estimates downward due to trends in repair shops.
The company’s policies in force showed robust growth, with direct auto policies increasing by 25% and agency auto policies by 18%. Progressive’s management continues to focus on enhancing policy life expectancy and advertising investments to sustain growth. Despite some mixed analyst reactions, the company’s strong underwriting results and profitability continue to justify its premium valuation compared to peers.
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